Tags: AS | China | Wanted Businessman

China Court Sentences Fugitive Tycoon's Staff

Friday, 16 June 2017 12:42 AM EDT

BEIJING (AP) — A court in northern China has sentenced three employees working for fugitive real estate billionaire Guo Wengui, who has been locked in a high-stakes political feud with the ruling Communist Party.

The Dalian Xigang People's Court on Friday announced prison terms of less than three years for three employees who prosecutors said were ordered by Guo to falsify financial documents to obtain loans from a state bank. Guo's development firm Beijing Pangu Investment Co. was also fined $36 million.

Guo fled China and now lives in a $68 million apartment overlooking New York's Central Park. He has cultivated a vast social media following and vowed to expose sensitive information concerning top party officials unless the government frees his employees and family members held in China.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Asia
A court in northern China has sentenced three employees working for fugitive real estate billionaire Guo Wengui, who has been locked in a high-stakes political feud with the ruling Communist Party.The Dalian Xigang People's Court on Friday announced prison terms of less...
AS,China,Wanted Businessman
127
2017-42-16
Friday, 16 June 2017 12:42 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved